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Gone are the days where a credit decision took weeks.Customers today, demand eligibility decisions in minutes, else swarming to fintech disruptors that deliver faster credit decisions and transparent business processes. The resulting churn is forcing banks to face the million dollar question of what quick actions to take for reducing decision time and increasing risk-reward gains.

Bankers say that the three most important things are costs, costs and costs.But to their dismay, loan origination costs have been rising steadily year on year.In 2017, lenders experienced the second highest loan production expenses in nearly 10 years.

Selling is energy intensive and time sensitive.The longer you take to make a sale, the lesser the probability of conversion. Now, some industries, by their nature, take longer but they can benefit by finding the optimal cycle that is comparatively shorter and makes good use of time and energy. Predicting purchase behaviors, optimizing product recommendations are some of proactive and positives actions that you can take in pursuit of shorter sales cycle.

The holy grail of service for insurance customers are tightly integrated care channels, seamless onboarding, and a unified 360-degree profile view.However, insurers undertaking this quest often stumble to adapt to emerging customer preferences, creating chaotic shambles instead of a cohesive omnichannel experience.How can your insurance business convert omnishambles into sweeping digital transformation to take on the competition?

Techno futurists gush that bringing disruptive technologies to contact center resulted in cost reduction, optimal service levels, quicker workflow processes. It is now possible to take profits and customer experience to a whole new level with burning a hole in company accounts. The prevalence and increasing adoption of digital tools, including IVRs (interactive voice response), chat-bots powered with NLP (natural language processing), analytics, behavioral routing etc. has empowered businesses to embrace customer-centric approach without compromising on margins.